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Search Results 0 to 28 of about 29 (some duplicates have been removed)
, and they need to raise the debt ceiling now, so we can pay our bills on time. >> tom: i'm tom hudson. a sour day for apple investors. the stock tumbles to 11 month lows on new worries about waning demand for the iphone 5. >> susie: but a banner day for g.m., the cadillac ats takes car of the year at the big auto show in detroit, and its new corvette stingray wows gear heads around the globe. >> tom: that and more tonight on "n.b.r."! >> susie: the next big fight in washington has begun. president obama today called on republican lawmakers to authorize an increase in the nations debt limit, saying that messing with it could potentially have catastrophic results for many americans and the overall economy. he warned markets would go haywire if congress does not act, interest rates would rise, and checks to social security beneficiaries would stop. and he said even thinking about the u.s. not paying its bills is irresponsible and, "absurd". darren gersh reports. >> reporter: in his first news conference of the new year the president gave a harsh lecture to republicans about the need to raise the deb
to negotiate. and they fired back that the debate over the debt ceiling was the perfect time to consider legislation to cut spending. at the same time, only a handful of republicans have actually said they'd let the united states default on its bills. >> the president claims this, but republicans have always raised the debt ceiling. we've never seen the debt limit fail to be raised. all they have said is we want to apply the same criteria that the president himself applied when he was a senator and say we don't want to give the president a blank check. we would like to fix the substantive problem which is the level and the growth in the debt. >> reporter: markets are almost treating the fight over the debt ceiling as the sequel to a bad movie. and investors have a pretty good feel for how this cliffhanger ends. >> they don't really care about the brinksmanship until they are right up to the brink, but also, the more dangerous the fall, off the brink, they figure the less likely that it's going to happen. >> reporter: treasury secretary timothy geithner told congress today that unless it
separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills, and we are not a deadbeat nation. >> clearly house speaker john boehner thinks differently. he responded by saying, quote, the american people do not support raising the debt ceiling without reducing government spending at the same time. >>> these pens are designed to be used only by one person, but an investigation discovered that many of them were used on multiple people. >>> are you in hawaii or going there anytime soon? surfers, beware. check out this video. it's a real-life jauss. two sharks were swimming dangerously close to the show. can you believe it? look at that. you could wade in and be bitten, eaten. last year there were a total of 11 shark attacks in hawaii. >> that's what i call dangerously close. >> oh, my goodness. >> so some people in the southeast waking up to the dual danger of flooding and ice. alexandra steele in the weather center. good morning. >> good morning, guys. each snow potentially for you around new york c
set the record straight on the debt ceiling. >> now the other imposition is called the debt ceiling. something most americans had not heard of before two years ago. so i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or magic credit card for the president to go spend whatever he wanted to spend. of course, the united states constitution gives the power to spend to congress. the result is the money congress has already borrowed. president obama explained to the american people in congress how they're trying to do their actual jobs. >> these are bills that are racked up. and we need to pay them. so while i'm willing to find compromise on how to pay our debts, americans should not be stopped from paying the bills we racked up. >> the country will be in a dire situation. president obama knows
proposing a delay to president obama's health care law in exchange for raising the debt ceiling. rich edson has the latest. rich: they have been figuring out what they want to propose. perhaps floating a delight in the implementation of the president's health care law. the bulk of the spending starts in 2014. that is just one of them any options they are hoping to discuss. major tax and entitlement reform. that will be discussed throughout the rest of the week. >> we have to come to a point where we stand and fight. i hope this is the time. there is no such thing in this definition. we'll pay social security, will you pay medicare or would you use it as a tool to try to get the house republicans to cave? rich: president obama said he will not negotiate. he will talk spending cuts and, perhaps, revenue. back to you. lori: thank you so much. new warnings on the debt ceiling. timothy geithner telling congressional leaders that the u.s. will exhaust its limit mid-february. bernanke urging congress to extend borrowing authority well before the deadline. the u.s. could lose its aaa rating, so whe
said he will not negoatiate on raising the $16.4 trillion debt ceiling, while house republican leader john boehner is insisting a debt increase would have to be accompanied by spending cuts to programs such as medicare. boehner has promised a vote tomorrow on $51 billion in aid to hurricane sandy vicitms. theres alot up in the air at boeing after a series of leaks and electrical glitches last week involving its latest aircraft, dubbed the 787 dreamliner. the faa will begin reviewing how the airliner is designed, manufacturered and assembled, with particular attention to the miles of electrical wiring used instead of heavier hydrallic systems. in a statement, boeing says "we are never satisfied while there is room for improvement. we welcome this opportunity to conduct this joint review." joe schwieterman of depaul university says it is too early for investors to be worried. "investors get nervous when there are these rollouts and there are problems. if this gets worse, boeing's stock could be affected, but i doubt it will be at this point. but who knows what will be revealed as these
the debt ceiling or put the u.s. economy st. at risk. it's tuesday, january 15th, 2013 and "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. we've been watching the u.s. equity futures and at least at this point you can see they do look like they're indicated to open a little lower. right now, dow futures down by about 16 points below fair value. the s&p futures are about 2 points below fair value. we have some different nebs going on at the top of the screen than we do on that fair value board. we'll check on that, as well. >>> dell is said to be in talks with private companies in reports of a possible guyout. the journal says jpmorgan is involved in the negotiations. dell shares have been soaring near an eight-month high on first word of this news yesterday. you can see up about close to 2% to the premarket sales. 64 is the last dip. in other technology news, facebook is holing a press conference today. no word on what the big announcement will be. you've heard a lot of analy
under control, but does he think the debt ceiling is the leverage that republicans should use to get that done? he'll join us exclusively, and i know you're going to ask him about that. >> absolutely. >> let's check out the action on the street right here. here's how things are shaping up with less than an hour to go. the dow jones industrial average hitting basically at the highs of the day. had been down around 60 points earlier. talking about a gain of 20 points on the blue chip average. fractional move at 13,527. nasdaq chart pattern looks similar. take a look though it's negative. down about nine points on the nasdaq, a quarter points lower and the s&p 500 looks like this. similar chart pattern as the dow up a fraction on the standard & poor's but still that's the high of the afternoon. let's get more on the markets in today's "closing bell" exchange by hank smith and steve from comcast funds and our own rick santelli. >> hello. >> good to see you guys. >> thank you so much for joining us. >> hank smith, we haven't heard from you in a while. let me kick this off with you. how ar
because the debt ceiling concern and talks, it's been pretty much nonexistent on the industrial -- >> the markets at fresh five-year highs. >> yeah. it's all because we had the fiscal cliff. and it was so volatile coming into it. we saw some massive swings and massive breakdowns coming into it. it seemed like the market was all over the place. with the debt ceiling, everyone thinks they'll kick the can, raise the debt ceiling up, or get resolved within -- >> that mean the market's at risk? it would seem yes, right? >> see, if you -- my opinion of what will happen is if there's any small breakdown in it, you know, if there's threats that they may downgrade the s&p, whatever, we'll see a breakdown in s&p down to like 14.50, 14.40. but there are so many people waiting on the sidelines, so much cash. and people looking at u.s. equities over the safety play. they'll start coming in, they'll buy. it i think it's going to be a good year for the s&p this year. >> what does earnings season do? hearing from jpmorgan and goldman sachs, the financials have been a driver of major averages mo
of the neighbors, cooler heads will prevail now between now and the time we deal with the debt ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. but i didn't come here to talk about any of those important subjects today, because as important as they allr today we have a more urgent and immediate call and that is how to deal with the epidemic of gun violence in america. you all know the statistics better than anyone so i'm not going to repeat them. on that score, i owe an incredible debt of gratitude to you at the head table and those of you in the room. i know we don't have you nan hit in this ballroom nor do we in any ballroom, but we all acknowledge that we have to do something. we have to act. and i hope we all agree, there is a need to respond to the carnage on our streets and in our schools. i hope we all agree that mass shootings like the one we witnessed in newtown 34 days ago cannot be continued to be tolerated. that tragedy has affected the public in a way i have never see
to see a default as we get closer to the debt ceiling deadline. will this put a limit on what stocks do over the next few weeks? >> i read this weekend another piece that says the social security checks aren't going to come out. they're going to come out, okay? we can go down this path and scare people. but i'm not going there. i remember when i was going to the balk last year and we had the debt ceiling. a woman said, i'm not going to get my social security check. and i said you will. she said, no, i'm not. i feel like, it's incumbent on people to say, look, maybe there's a week -- but when you say social security's not going to come out, we are not a third world -- an emerging third world nation, whatever is political to say. we can really scare people here. our job should not be to scare people. but you can scare people very easily. >> right. on the other side people are citing mutual funds, we talked about this on friday, and thursday of last week as a positive. perhaps you shouldn't, given there were so many inflows to bond funds. the s&p was up nicely last year and the year prior,
fighting and hammer out a strategy to deal with the looming debt ceiling. melissa: chaos in algeria, the fate of dozens of hostages is unknown. some reportedly have escaped. fox news middle east analyst and lou dobbs will weigh in. first, time for stocks, let's check with the floor the new york stock exchange, nicole petallides is standing by. the dow just awful session highs, but not having a bad day. nicole: not bad at all. up about 90 points off of the highs of the day. was yesterday a fluke? we had five days of gains, gave back a little bit yesterday and back in the green again. look at the nasdaq up more than half a percent. the s&p 500, gains across the board. economic news for labour numbers and those were good, housing starts have been on the move as well, that was well above expectations. let's take a look at some of the homebuilders in particular, which have had a great run recently. tilden permits at multiyear highs. ben willis yesterday talking about optimism. there is a look at lennar. to give an idea of how well the homebuilders have run up, to put together a chart wit
more people care about that issue than the debt ceiling. >> bill: they get too full of themselves. the problem with the front row particularly the press corps is they represent different networks. they all want to talk about let's say, for example guns. they all want to be on camera asking the question about guns and it doesn't matter if somebody else has already asked the question five different times in five different ways, they're still going to ask it so they can get on camera. that's what's wrong with the press briefings. >> thank you very much for your tweet. >> if you go to the newseum web site and you look at what the country is talking about it is a rich quilt of different issues, different ideas that people around this country are discussing. and the washington press corps questions of one or two topics doesn't even big to cover -- begin to cover what reporters around this country are reporting on, talking about. that disconnect is really jarring, i think. >> bill: it is jarring. i remember as a reporter in los angeles and a comment tater in los angeles, covering preside
again. another recession if congress balks at raising the debt ceiling. that's right. those two words, we're all using them again. debt ceiling. this time around, the president is telling house republicans they can do it his way or own the blame. here he was. >> and republicans in congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. >> also, need to tell you the president did speak about his gun violence effort. he's had the package put together by the vice president is on his desk today. and he will talk about it a little later on this week. want to bring in two people here, ali velshi with me from new york, and gloria borger there in our nation's capital, to you both welcome. ali, it has been more than a year since that whole previous debt limit debacle. and i know you are saying, especially comparing this to what we just saw on new year's day with the fiscal cliff, this is going to be much,
that is a laggard. hewlett-packard, american express, a few of the names coming under the pressure. the debt ceiling remains in focus. it is earning season. let's take a look at facebook. it is up about three quarters of 1%. it certainly has gained over the last half hour. we are getting closer and closer to the launch time. come and see what we are building. there is speculation that remains. the anticipation remains. dagen: trying to strategize on how to rein in government spending. connell: rich edson with all the details. rich: a very busy legislative day. they are dealing with this handy appropriation bill. republicans are discussing a number of different options. there is a major house republicans of that. their annual retreat takes place on wednesday. >> when does this budget balance? here is when the budget gets to balance if we adhere to these cuts. rich: republicans trying to figure out their opening position on the debt ceiling. democrats and the white house have already come out with theirs. president obama saying that he is not negotiating it. he says he is willing to talk about deficit
the debt ceiling. fitch said the pressure on the aaa is, if anything, increasing. >>> we are four hours away from facebook's secret announcement in menlo park. so far, the guesses range from a facebook search engine to a facebook phone. would either product help lift the stock back with a high water mark. >>> the debate kicks off whether dell can, a, raise the money to go private, and b, reinvent itself without going through cash flow. the journal said the talks have been serious for weeks. >>> lululemon doing a downward dog this morning. raises guidance but not enough to impress investors. >>> the battle over the debt ceiling has warranted a warning from fitch. they said it will prompt a formal review of u.s. credit ratings. fitch does add it expects congress will ultimately approve a ceiling increase. the head of global sovereign ratings for fitch, david riley, will join us in the next hour. bernanke weighing in on the debt ceiling in michigan late yesterday. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills.
rougher. >> jerry, what about all these issues in washington, the debt ceiling fight on the horizon. is this going to impact the broad economy and the earnings season, do you think? >> i guess this whole political thing is -- these are all the bricks in the wall of worry that equity markets are continuing to climb. i think there's -- you know, we know how to talk about these things, they're out there, they're visible, they're in the media a lot. you know, we follow them i think sometimes like a sport. and so maybe we exaggerate a little bit how much the -- these political match nations -- i don't know i don't want to minimize them, but i think sometimes we miss the point there are really good companies out there who figured out how to make really good money with all this political noise going on. >> and yet, greg, so many potholes ahead. you know we're going to see a lot of back and forth over raising the debt ceiling. sequestration is still on the horizon now. less than two months away. the continuing resolution. i want you to take a listen to the president's spokesperson this week
in congress over raising the debt ceiling. the fed coming to the same conclusion that the idea behind the platinum coin was that the treasury would mint a core or coins for precious metal and the value would be based at $1 trillion. the united states is expected to reach its debt limit of $16.4 million last month. >> how many -- >> and it would have created sh -- there's the idea of used the 14th amendment to say that you have to pay your debts. but it would have created huge problems for the democrats as a way of just saying, you can make up any kind of mope. >> no. but a lot of people said if one side is going to play hard ball,ing. >> they would have been tide up in reports forever. >> there is a provision for it. easily done. i wanted one. that's a lottery you want to win, that coin. >> a printing press, right? >> a trillion dollar coin. >> i could never spend that much money. it would be impossible. >> ever see brewster's manage? >> i know of it. >> i don't remember. i remember -- >> why you wouldn't keep it. >> richard pryor was in it. >> very difficult. >> the debt ceiling is s
. earlier, we said that as we do with the debt ceiling once again we're going as more of a debt popple. this higher interest rate proposal would be devastating for the economy. >> and how about ball mark? >> yes, they have pledged to hire 100,000 veterans that are returning from the war over the next five years. and a job is a job, let us just remember that even if is a transition jobs. soldiers are known for their commitment, sacrifice. wal- mart believes that the leadership to want to be seen as a blue-chip company. >> thank you, rob. and now, coca-cola we all know that obesity is a huge health problem in the u.s. and now - the people at coca-cola seem to be joining the fight against calories. but many wonder if this is really just an example of good marketing. felicia taylor has the story. pay attention to the man walking away from the camera. let's stop the video right here now the question is will the postal truck do the right panel also, coca-cola still seeing increases with their non-cola items. the company is already getting cal ripken to the front of their labels. felicia tayl
carrier. the less expensive version would have a plastic body. >>> the debt ceiling, new treasury secretary, will washington be an on stockles to the market and the economy or will washington be a help? joining me now is geg i and author of "the economist" and jerry webman, chief economist at oppenheimer funds. thanks for joining us. >> hi. >> greg, let me kick this up with you. president obama's pick for treasury secretary, chief of staff, jack lew, will take over for timothy geithner. is this a missed opportunity to be friendly to business, the business community, or is this a new call since it appears that nobody on earth knows this better than mr. lew. >> well, i think jamie dimon would build business between the community which feels a little bit alienated by the administration's first-term policies and mr. obama. but what they got is a guy -- not one of them, but does know the budget really well and the clearly the main challenge on the economic front for the first year is going to be on the fiscal front. insofar as jack lew has the trust of the president is in power to make
deficit reduction plan. understand that fitch is not just looking for an 11th hour debt ceiling deal that sets the table for another mini crisis down the road. the federal government hit the debt limit as you know on december 31st. the treasury is using so-called extraordinary measures to pay its bills through mid-february or early march. now, fitch predicts washington will extend the debt ceiling despite the current war of words between president obama and republicans in congress. what happens if we get downgraded? it happened before. remember 2011, when standard & poor's did it. that hit markets and the wider economy hard, but it didn't cause interest rates to increase. this time could be different, however, because the rest of the world is getting its act together. even successful businesses like ford are worried. here's what ceo alan mulally told me today. >> i think the most important thing to your point is that we come together around a solution that allows us to live within our means, to reduce our budget deficits, and also to deal with our trade deficits, and create an enviro
if congress doesn't raise the debt ceiling. president obama says he will not negotiate this issue with congress but republicans want any increase in the debt ceiling to be tied to spending cuts. >>> the issue here is whether or not america pays its bills. we are not a deadbeat nation. and so -- there is a very simple solution to this. >> now, in a statement, john boehner indicated the republican party is prepared for a fight. he said "the consequences of failing to increase the debt ceiling are rule but so are the consequences of allowing our spending problem to go unresolved." >>> state lawmakers in sacramento are closely watching this debate in washington. the concern is that if congress doesn't act on the debt ceiling, the national economy could dip and that would likely have a negative effect on california's budget numbers. push >> the biggest risk to our forecast or the analysts' forecasts could come next month and that's from washington, d.c. >> the 2013 budget release by governor brown showed a surplus for the first time in many years and that was thanks to new tax revenue
to me, hey, jim, what is cnbc going to do after they solve the debt ceiling? you panicked on the election. >> we'll try something. >> the country, the republic is in repeated crisis. you have a president saying -- he said, okay, what happens if the president doesn't have a crisis after the debt ceiling? what are you going to do if he says, listen, we're just going to go back to being like washington? that was interesting. >> we can talk about fundamentals. the economy will be picking up. housing likely to get in on it. >> maybe we're actually breaking -- maybe the valuations aren't -- >> based on what? >> come on, under wells fargo? >> michael dell, and suddenly, mr. skeptic -- >> overheated debt market, that's always a good sign for an economy. that's always a sign that things are getting a lot better. >> it's been getting overheated since 1979. >> big lbos. that worked out real well. no, i'm just -- there's housing, sales of pickups. sales of cars in europe for 2012, not so good. we'll talk about that. >> germany, the bmw sales, volkswagen sales. one of my cousins in mex
. president, what's the deal with the debt? i've been hearing a lot about the debt ceiling. what's my family's share? i'm just a kid. when i'm a grownup, i understand it could be hundreds of thousands of dollars. could you guys please cut spending now? >> brian: if you want to know if that is going to happen today, see if rand paul's grandson will be in there or somebody like that. if there's a republican child or michael j. fox's character, michael keating. >> gretchen: that would be a good one. let's talk about what the new york state has done now and governor cuomo. he immediately went on the attack to try and pass very expansive gun law legislation because many people are saying he wants to run for president next time around and he also was very concerned about the issue. but some people are saying this morning that what they passed last night is full of holes. we want to show you a graphic of a particular kind of weapon that has been banned, a rifle. this is a baneli 1 rifle. the reason it's banned is because you can see how you hold on to the gun there. that's called a military style g
run out of money to pay its bills by the end of february if that debt ceiling isn't raised. congress is preparing to debate it, but it could be a politically charged battle. >>> all right. a big political comeback getting underway today. you might remember former south carolina governor mark sanford. well, back in 2009 he admitted to having an affair with a woman from argentina, who is now his fiance. he announced he's running for his old congressional seat. >>> all right. and you don't hear a story like this often. it comes to us from the suburbs of stockholm, sweden. that's where a cleaning lady stole an empty commuter train and drove it into an apartment building. >> she was at the controls for about a mile. then the train derailed before hitting the building. the woman was seriously injured. she was the only person hurt. i guess she was the only one on the train. >> not good. what were you thinking? >> i wonder why she did that. >> i don't know. >> we need more information on that one. >> yeah, we do. >>> let's talk about our wednesday weather. heavy rain from the gulf coast into
intimating at this point that they're going to be some short-term extension in the debt ceiling and focus on spending. they seem -- you know, they seem to be a little bit hesitant to allow themselves to be set up again as people that are trying to destroy the economy. they're tired of being put in that position where they're holding back the economy. and i think it was the accusation in the first place, but they're sensitive to this point and they're going to roll over. >> they're very sensitive. the political realities of the situation is that i think we all know what needs to be done longer term. the reality is can they get any of this done in the next two months? and that's a much bigger question. i think they're trying to figure that out right now? >> well, we will have people that will argue that we don't have a spending problem, that president obama said we're going to have an economist on today on how you get -- you know, we're going to talk to him. he says the one thing that would hurt the economy is in cuts in social security or medicare or medicaid. any type of reform to those t
Search Results 0 to 28 of about 29 (some duplicates have been removed)